LONDON: Standard Bank of South Africa is set to close an increased $700 million, three-year loan on Friday with a group of nineteen banks, banking sources said.
The bullet loan, which initially launched at $300 million, pays an interest margin of 100 basis points (bps) over Libor, the bankers said.
Citigroup is acting as initial mandated lead arranger on the deal, which will sign in London on Wednesday December 10.
This is the second time Standard Bank South Africa has tapped the market this year.
In September, the bank signed an increased $560 million three-year loan with a group of fourteen banks. That deal, which increased from $375 million, was also priced at 100 bps over Libor.
"The price in the market [for borrowers] is very attractive at the moment, which is triggering appetite for these deals," said one of the bankers.
Standard Bank declined to comment.
Comments
Comments are closed.